Iberpapel Gestion (IBG) AI Stock Analysis

Iberpapel Gestion

(BME:IBG)

Select Model

Rating:54Neutral

Price Target:EUR 16.50▲(1.85% Upside)

Action:reiterated

Date:08/04/26

The score is driven mainly by deteriorating 2025 operating performance (negative EBIT margin and weaker revenue) despite a very strong, low-leverage balance sheet. Technical indicators show weak momentum (below key moving averages, negative MACD, RSI near 40), while valuation is a balance between a high P/E and a solid dividend yield.

Positive Factors

Very Low LeverageVery low leverage gives Iberpapel substantial financial resilience during cyclical weakness in paper markets. The reduced debt burden should limit financing pressure, preserve borrowing capacity, and leave more flexibility to maintain operations or fund investment when profitability recovers.

Negative Factors

Revenue ContractionThe decline in revenue indicates weaker top-line demand or selling conditions for Iberpapel's paper products. Sustained contraction would reduce operating leverage, make fixed costs harder to absorb, and constrain the company's ability to rebuild earnings without a market recovery.

Iberpapel Gestion (IBG) vs. iShares MSCI Spain ETF (EWP)

Market Cap: EUR 175.58M
Dividend Yield: 5.10%
Average Volume (3M): 2,510
Price to Earnings (P/E): 1723.4
Beta (1Y): 0.31
Revenue Growth: -7.35%
EPS Growth: -99.48%
Country: Spain
Employees: 291
Sector: General
Sector Strength: 55
Industry: Paper, Lumber & Forest Products

Iberpapel Gestion Business Overview & Revenue Model

Company Description

Iberpapel Gestión, S.A., including its various subsidiaries, is globally active in manufacturing, distributing, and exporting paper for writing and printing. Its market reach extends across Spain, the broader European Union, Africa, and South America...

How the Company Makes Money

IBG makes money mainly by producing and selling paper products, with revenue recognized from the sale of uncoated woodfree (UWF) printing and writing paper to customers through its commercial/distribution channels. The core revenue stream is therefor...

Iberpapel Gestion Financial Statement Overview

Summary

Overall fundamentals are mixed: the balance sheet is very strong with very low leverage (debt-to-equity 0.04) and provides resilience, but profitability weakened sharply in 2025 with revenue down (-6.0%) and operating profit turning negative (EBIT margin -2.5%). Cash flow remains positive (FCF €8.5M) but cash conversion weakened versus 2024 and has been volatile historically.

Income Statement

44Neutral

Balance Sheet

82Very Positive

Cash Flow

55Neutral

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	213.73M	216.74M	238.19M	250.76M	295.02M	237.23M
Gross Profit	94.00M	91.09M	147.12M	145.94M	209.61M	147.96M
EBITDA	14.16M	9.09M	42.03M	66.65M	30.54M	22.96M
Net Income	81.00K	6.06M	23.16M	47.13M	15.84M	9.29M
Balance Sheet
Total Assets	391.72M	389.07M	407.68M	389.03M	389.10M	385.84M
Cash, Cash Equivalents and Short-Term Investments	124.84M	127.63M	122.08M	118.75M	77.01M	105.24M
Total Debt	10.11M	13.04M	18.43M	24.29M	37.78M	52.12M
Total Liabilities	65.38M	56.99M	68.06M	70.63M	101.74M	116.19M
Stockholders Equity	326.34M	332.08M	339.62M	318.41M	287.36M	269.65M
Cash Flow
Free Cash Flow	0	8.47M	35.13M	27.61M	-4.61M	25.08M
Operating Cash Flow	0	18.93M	41.44M	33.01M	16.13M	46.88M
Investing Cash Flow	0	2.37M	-14.83M	32.76M	-23.71M	-21.80M
Financing Cash Flow	0	-15.51M	-18.36M	-23.69M	-21.18M	-46.32M

Iberpapel Gestion Technical Analysis

Technical Analysis SentimentNegative

Last Price16.20

Price Trends

50DMA17.31Negative

100DMA17.96Negative

200DMA18.78Negative

Market Momentum

MACD-0.28Positive

RSI26.89Positive

STOCH18.06Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ES:IBG, the sentiment is Negative. The current price of 16.20 is below the 20-day moving average (MA) of 16.72, below the 50-day MA of 17.31, and below the 200-day MA of 18.78, indicating a bearish trend. The MACD of -0.28 indicates Positive momentum. The RSI at 26.89 is Positive, neither overbought nor oversold. The STOCH value of 18.06 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for ES:IBG.

Iberpapel Gestion Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

ES:IBG against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ES:VID	78Outperform	EUR 3.19B	13.54	15.03%	1.74%	-2.65%	-22.90%
ES:VIS	75Outperform	EUR 2.48B	15.24	17.61%	5.99%	3.06%	2.48%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
ES:IBG	54Neutral	EUR 175.58M	1723.40	0.02%	5.10%	-7.35%	-99.48%
ES:ENC	39Underperform	EUR 535.63M	-14.18	-8.44%	―	-1.34%	-26.52%

* General Sector Average

Performance Comparison

ES:IBG and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
ES:IBG	Iberpapel Gestion	16.20	-2.96	-15.46%
ES:ENC	ENCE Energia y Celulosa	2.21	-0.42	-16.10%
ES:MCM	Miquel y Costas and Miquel	9.94	-1.03	-9.35%
ES:VID	Vidrala SA	86.50	9.81	12.79%
ES:VIS	Viscofan SA	54.10	2.93	5.73%

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Aug 04, 2026

Iberpapel Gestion AI Stock Analysis